How much of my money will get to my kids and how much will get to the Government?

by JD Miller on June 8, 2011

JD Miller CPA
The Trusted Financial Planner

This is the second Great Goal of Life.

How could it impact YOUR life?

You’ll discover the answer to the questions below.

If you can you conceive of your income going up,

if you can conceive of your income increasing at a rate greater than your cost of living,

if you can conceive of an income that grows throughout your retirement,

if you can conceive of an income that you cannot outlive,

Could you conceive of leaving your principal alone throughout your retirement?

Let’s do a quick review.

Principal is the money you have saved. I call it your pile.

Income is what your pile earns.

Let’s just assume, for a moment, that your income would always be enough throughout your retirement. Would that be an income that you cannot outlive?

Let me ask those questions in a different way:

If what your pile earns for you every year is more than what you need to enjoy your current lifestyle, …

…could you see yourself spending only your income and spending none of your pile during your retirement?

If you didn’t dip into your pile to spend during your retirement years, if you left your principal alone during your life in retirement, what do you suppose would happen to it?

It wouldn’t just grow. It would multiply.

You could have more money close to the end of your life than you ever had at any other time in your life.

You could have the foundation for multi-generational wealth for your family.

If you can conceive of leaving your principal alone and that you can enjoy your life by spending only your income in retirement, let me ask you this question.

To what extent would you like to use your principal to intervene, financially, in the lives of your children, either during your life, at your death, or both?

This isn’t an either/or question. You can do both.

Isn’t this a wonderfully elegant question?

Would the answer to this question make it possible for your children to not have to go through what you have had to go through in your lives?

As you look at this, it may look to you like an income question. It’s not. It’s a planning question.

The question is not:

“How much money will I have at the end of my life?”

The planning question that we must answer is:

“How much of my money will get to my kids and how much will get to the Government?”

If you want help with your answer to this question, ==> Click here to contact us.

Next question.

And please share this with others …

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